PeoplesTrust to help cover grocery loan fees

Hackleburg Town Councilwoman Tabby Lolley looks through a catalog prior to a vote by the council to purchase a new set of playground equipment for the town park.>

HACKLEBURG - PeoplesTrust Bank has agreed to cover any outstanding legal fees it incurred on behalf of the Town of Hackleburg when it was attempting to save its local grocery store.
Former Hackleburg Market owner Wally Kemp announced in July 2019 that he was shutting down his store after five years of operations.
When news emerged that the town’s grocer would be closing last summer, the town sought to purchase the $2-million facility and its equipment.
PeoplesTrust Bank, which operates a branch in Hackleburg, stepped in, offering the town a deal to borrow $650,000 from the bank for a 20-year term at a balloon interest rate starting at 4.35%, limiting increases to no more than 2%.


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